Cape Coral Approves 180-Unit Mixed-Use Project Near Downtown

The Cape Coral City Council approved the Riverfront Commons project on July 8, granting permits for a 12-story tower with 180 apartments and 35,000 square feet of ground-floor retail at the corner of Del Prado Boulevard and Viscaya Parkway.

The vote came as Cape Coral's real estate market posted its strongest first-half sales total in five years, with 2,148 homes changing hands between January and June. Planners cited the site's location inside the city's designated urban core as the reason the density increase passed without major changes.

Site ties to existing anchors

The parcel sits three blocks from the Cape Coral Public Library and one block north of the Southwest Florida Military Museum and Veterans Park. City documents show the developer must install a 12-foot-wide pedestrian path linking the new building to both facilities and add 120 public parking spaces open after 6 p.m.

Construction is slated to begin in October 2026 with a projected completion date of March 2028. The $62 million project will include 12,000 square feet reserved for a grocery tenant and 23,000 square feet of office space on floors two and three.

Market numbers and next steps

Median sale prices for condominiums within a half-mile radius reached $312,000 in the second quarter, up 9 percent from the same period last year, according to the Cape Coral Multiple Listing Service. The new units will be priced between $289,000 and $475,000, with 20 percent set aside for workforce housing.

Residents can review the full site plan and traffic study on the city's planning department portal or attend the next public information session scheduled for August 12 at City Hall. Permit applications for the first phase of underground utilities are already under review by the utilities department.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.